Adyen, the global financial technology powerhouse behind giants like Microsoft, Uber, Spotify, and eBay, has chosen Fiskil as its data-sharing partner to revolutionize merchant onboarding and account verification across Australia.
Through Fiskil’s cutting-edge banking API, Adyen will enhance its merchant experience, making onboarding faster, smoother, and more secure. Real-time financial data will give businesses the agility to onboard effortlessly while ensuring a streamlined, safe, and future-ready process.
This Adyen-Fiskil partnership goes beyond verification. Together, the two firms intend to expand the use of Open Banking beyond onboarding and verification, exploring new opportunities in areas such as credit risk assessment, transaction intelligence, and other high‑value financial services.
Key Takeaways
- With this partnership, leveraging Fiskil’s Banking API, Adyen will streamline merchant onboarding in Australia. It means reduced delays, less friction, and improved both speed and security.
- Leveraging live bank data allows merchants to sign up with higher confidence while meeting compliance standards through secure, consented connections.
- This marks the start of using Open Banking beyond onboarding – anticipating tools in credit risk assessment, transaction intelligence, and future financial services.
- With Australia’s Consumer Data Right progressing, the partnership demonstrates confidence in Fiskil’s platform and the region’s regulatory readiness for scalable, secure data-sharing
Adyen-Fiskil Partnership – Drive Real-Time Financial Data For Merchant Onboarding
On May 6, 2025, Adyen announced that it had chosen Fiskil – an Australian specialist in open banking – as its data partner in that market. Fiskil, accredited under the Consumer Data Right, offers an API that delivers account details, balances, and transaction histories straight from banks, all through a secure, standards-based interface. By plugging Fiskil’s API into its own platform, Adyen can now let merchants connect their bank accounts with a few clicks, then automatically fetch and check the necessary details in minutes instead of days.
This process is streamlined. When a merchant goes through Adyen’s onboarding flow, they’re asked to authorize access to their business bank account. Once they agree, Fiskil’s API springs into action, confirming account ownership, checking available balances, and scanning transaction history on the spot. That real-time verification replaces the old model of submitting static documents and waiting for manual review. The result is a smoother, more self-service experience that gets merchants up and running far faster, with fewer questions and less back-and-forth.
Speed isn’t the only gain. Accurate, instant account checks also cut down on fraud and non-compliance. In the past, a payment provider might not spot a fake or risky account until long after it had already been approved. Now, with live data flowing in, Adyen can block suspicious merchants before they even finish signing up, meeting anti–money laundering and know-your-business rules right away. That keeps both Adyen and its merchant clients safer, and it means fewer headaches when regulators come calling.
Fiskil’s API is built for developers and security teams alike. It uses standard REST calls with JSON payloads, follows global open banking specs, and brings in OAuth 2.0 consent flows to make sure only approved requests go through. Data is encrypted in transit and at rest, there’s a SOC 2 certification for the infrastructure, and every access event is logged for auditing. Developers get a sandbox environment, clear documentation, and SDKs that let them test and integrate features without risking production systems. All of this made it possible for Adyen’s engineers to roll out the new onboarding and verification tools without major hiccups.
Adyen chose to improve its data setup just as Australia’s open banking rules are shifting. The government has overhauled the Consumer Data Right and will bring non-bank lenders on board in 2025, opening up fresh opportunities for services that rely on live financial data. In Australia, the CDR is overseen by agencies like the ACCC and the OAIC, and it sets strict guidelines for how banks and other data holders must share consumer data upon request. Companies that want to receive that data, like Fiskil, have to meet tough standards around privacy, insurance, dispute handling, and technical readiness. Since the CDR launched, the number of accredited recipients has climbed steadily, and Fiskil has become one of the top players, working with more than two dozen finance and energy ventures to date.
To see the impact in a real-world setting, let’s take an example of a mid-sized online store in Melbourne. Under the old process, the owner would gather business licenses, bank statements, and other documents, submit them to a payment provider, and then wait, often several days, while compliance teams waded through the paperwork. With the new Adyen-Fiskil setup, the owner only needs to click “Connect my bank,” agree to share data, and watch as the system checks everything in under an hour. By the end of the morning, they’re live and able to take payments, turning what used to be a week-long chore into a quick, digital handshake.
Leadership at both companies sees this as just the start. Blanca Ferrero, Adyen’s global lead for open banking, points out that the industry is only beginning to tap into the value of live financial data. She believes open banking is changing how businesses tap into and use financial data, leading to smarter, faster decisions. Working with Fiskil lets Adyen broaden those capabilities in Australia, offering smooth, scalable tools for verifying accounts, onboarding merchants, and more. Thanks to Fiskil’s secure data connections, Adyen can keep innovating without sacrificing compliance or user experience. She believes as Adyen extends its reach around the world, this partnership will be crucial for opening up fresh opportunities for merchants and businesses.
On the other hand, Jacob Parker, Fiskil’s CEO and founder, says Adyen’s decision confirms that Fiskil’s infrastructure can deliver secure, real-time financial data at scale. He notes Adyen’s reputation for innovation and operational excellence sets a high standard, and Fiskil is proud to support their open banking strategy in Australia. This partnership reflects a wider market shift – reliable, consented data is now essential for smooth, intelligent customer experiences. Fiskil looks forward to helping Adyen reshape onboarding, verification, and beyond.
Of course, bringing together two complex systems isn’t without challenges. The teams had to nail down how data fields map between Fiskil and Adyen, build robust consent screens, and make sure errors, like a temporary loss of API access, don’t leave merchants stranded. They leaned on Fiskil’s sandbox to test edge cases, set up automated retries, and ran contract tests to keep both sides in sync. By working in short sprints and maintaining open communication, they rolled out the new features without disrupting existing customers.
Along the way, a few best practices emerged. Clear consent prompts are vital to avoid confusing merchants. APIs should be idempotent, meaning repeated calls won’t create duplicate records or unwanted side effects. Teams need to track latency and error rates closely, so they can spot issues before they affect real users. And having a cross-functional incident response plan, one that brings engineers, product managers, and compliance officers together, makes it easier to address problems quickly.
Real-time transaction feeds could also fuel dynamic credit scoring, so Adyen might one day offer short-term loans based on a merchant’s actual cash flow. The same data could feed analytics services that spot sales trends, predict fraud, or help merchants tailor their marketing. Open banking connections could even link directly to accounting software or loyalty platforms, giving businesses a unified view of their finances in one place.
For merchants, the immediate gains are that they get set up faster, face fewer compliance hurdles, and enjoy a lower risk of fraud. Small businesses can start selling sooner, while larger ones benefit from reliable, automated checks that scale with their volume. That means teams can spend less time on paperwork and more time on strategy, growth, and customer service.
About Adyen
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Adyen N.V. is a Dutch fintech company founded in 2006 in Amsterdam by Pieter van der Does and Arnout Schuijff. The firm offers a unified global payment platform that integrates online, mobile, and point‑of‑sale transactions through a single in‑house infrastructure. As both a payment gateway and acquiring bank, Adyen enables merchants to accept a wide range of local and international payment methods – debit, credit, real-time bank transfers, alternative local options like Brazil’s Boleto, and mobile wallets – while providing risk management, issuing, and acquiring services through one system. Headquartered in Amsterdam, the company has over 4,300 employees across more than 28 offices globally, and processed approximately €970 billion in transaction volume in 2023.
Adyen has grown rapidly and profitably, going public on Euronext Amsterdam in June 2018. It posted €2.25 billion in revenue and €925 million in net income in 2024, and boasts a market cap of around €50 billion as of June 26, 2025 . Its platform powers payments for major global brands including Microsoft, Uber, Spotify, eBay, Booking.com, and H&M. With capabilities spanning unified commerce, fraud detection, data-driven insights, and issuing virtual and physical cards, Adyen positions itself as a tech-forward “engineered for ambition” partner that enables businesses to expand globally while optimizing conversion and controlling financial operations.
About Fiskil
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Fiskil is an Australian-founded fintech, established in 2020 by Jacob Parker, with its headquarters in Sydney and a second office in Brisbane. The company delivers an enterprise-grade, API-first platform focused on secure consumer-permissioned data sharing, enabling compliance with Open Banking frameworks (including CDR, FDX, Section 1033) across finance and energy sectors in jurisdictions like Australia, the UK, and the U.S. With over 115 financial institutions and more than 20 energy providers integrated – and a platform built for high availability (99.99% uptime) and robust security, including SOC 2 and ASAE 3150 Type II, AES‑256 encryption, cloud-native architecture, multi-factor authentication, and active monitoring – Fiskil is designed to simplify data connectivity while fulfilling stringent compliance requirements.
Fiskil’s offering includes a Data Holder solution, a Product Portal, Banking APIs, and Energy APIs, all customizable to embed consent flows that reflect each brand’s identity. Trusted by notable clients such as Adyen – and recently recognized as a 2025 Finnies finalist for Best Innovation in Open Banking/Open Finance – Fiskil empowers fintechs, banks, and utilities to reduce compliance risk, eliminate outdated methods like screen‑scraping, enhance fraud detection, and improve consumer experience. Its scalable, secure infrastructure has also been leveraged in high-impact partnerships, such as with treasury‑focused Finmo, enabling seamless real‑time financial data connectivity that streamlines treasury operations and cash visibility for corporate finance teams.
Conclusion
Adyen’s partnership with Fiskil reflects a clear shift toward faster, smarter, and more secure onboarding through the use of real-time financial data. By replacing manual checks with live, consented access to verified bank information, Adyen not only improves speed and accuracy but also reduces fraud risk and strengthens compliance.
The move is in line with the broader regulatory changes in Australia and shows how Open Banking can drive tangible improvements in business processes. For merchants, the result is less paperwork, quicker access to payments, and a system that scales with their growth. For Adyen and Fiskil, it’s a step toward a more connected, data-driven financial ecosystem.
